Do you know your sales goals for this month? If not, you are losing out on money!
You can break down sales goals into how many:
- Sales conversations to have to close more sales
- Prospects to follow up
- New people to set up an appointment for a sales call
Instead of getting to the end of a month and having to “hustle” like a crazy person… let’s lock in your sales goals to close the sale.
Revenue is the lifeblood of your business. And it is all a numbers game. To understand the numbers, you have to first understand the process from someone being aware of you to the closing of the sale.
((Listen to the Podcast below))
Filling Your Pipeline
There is the person you are talking to. Everyone else is waiting to have a conversation with you. The key to filling your pipeline is to have a lot of people in line waiting.
Because when you focus all your time and energy on closing a person and the admin work, your pipeline dries up. Then you have no one to talk to, and you start to panic.
This is where marketing comes into play. The job of marketing is to create awareness about your product or services. Some ways you can do that are:
- Utilizing social media organically
- Joining Facebook groups
- Joining online forums
- Join and participate in local associations
Keep in mind that marketing is not selling. You want to participate in these groups but not sell. Provide valuable content that will help the members of the group, so they start recognizing your name.
Your goal here could be to get someone to schedule an appointment to talk. Most people won’t set up an appointment at first since you are a stranger.
The next step is to set up a lead generation to capture their information by offering them something of value. Once someone is a lead, you reach out to them.
One of two things is going to happen. You will either connect with them or leave a message.
Once you have made a connection either, they are interested or not interested right now. The person not interested right now goes into your follow up system. You don’t want to lose track of those people at all.
These leads were interested, just not ready to buy now. But eighty percent of people that show interest will buy in the next twelve months, and you want it to be from you. If you’re not hitting them up on a regular
basis they will end up buying from someone else that does.
Also, you want to always have the next step, so you don’t feel uncomfortable reaching out to them again. Before you get off the phone with them, tell them when and how you will be contacting them next.
Flow of the Pipeline
You are wanting to constantly be filling your pipeline so that you have more people to book appointments. And on these appointments, you want to close more sales. If you don’t close them, move them into your follow up system. This is the flow of a pipeline.
Reverse Engineering Your Sales Goals
What is your big picture goal? I will call it your vision. My big vision is I want a thousand-acre ranch (read more about this in my blog post).
To hit that, I need a revenue goal of ten million dollars in five years. That is basically two million dollars a year that I need, which is roughly it’s one hundred and eighty thousand dollars a month.
Breaking Down a Goal
Let’s say my product is five thousand dollars. I would need to close sixty deals a month. That would be my monthly goal.
That breaks down to twenty deals a week. What has to happen in order for me to close twenty sales a week? I need to know how many appointments I need booked and my closing percentage.
How Many Appointments Do I Need?
If I want twenty deals a week, but right now, I’m only getting five, how many appointments did I need to have that week in order to close five deals? Maybe fifteen.
So you need fifteen appointments to close five deals. Then what do you need for 20 deals? That’s about 60 appointments a week.
Now that I know I need 60 appointments this week, I need to figure out how many sales calls do I need to make in order to get sixty appointments in a week?
What are you doing right now? So if you’re getting fifteen appointments right now, how many people are you reaching out to and calling and following up with every single day to get those 15 appointments?
Is that 100? Well, if it’s 100, then I’m going to need to reach out to 400 people.
So I need to reach out to four hundred people a week in order to get those sixty appointments, in order to close those twenty sales, in order to reach my monthly goal. And I need to do that every single month for five years to get that goal.
How Many Leads?
I need to follow up with four hundred people a month. How many new leads do I need to get a month to figure that out? This one’s a little bit tougher, but let’s do a little exercise to break that down.
So if right now, you’re closing five deals a week, that is, twenty deals a month. Let’s say those were just the ten percent of people that would purchase.
That would be two hundred leads. Ten percent of them would close the sale. There would also be another ten percent from follow up that you would end up getting automatically from implementing the follow-up from the pipeline that we just went over.
So you might need two hundred leads a month to close that month. These numbers might seem a little outrageous for what your goals are,
but that’s why you want to start back here with what your vision is for your business.
It is important to keep track of all this stuff. Because once you understand where you struggle, you can hone in on that skill to get better. Then you find out that you can do less work and get the same result.
Also, if you are tracking your stats throughout the week, you know when you are falling behind on your goal and need to put in more time. When you fall behind one week and don’t pick up the pace the next week, the whole month will fall short of your goals.
I’m going to teach you something that most people don’t teach, and it’s going to get you the fastest result. Because when you can identify these areas of weakness in your sales funnel, you have control over what happens next.
And if you don’t keep track, you’re just going to be randomly doing whatever and you’re just going to keep getting random results.
Remember, it is a numbers game, and you can increase those numbers to increase the number of sales you close. And all of that compounds into the year.
But you have to know your measurements first.
Using Ads for Leads
Another fast way to get leads to meet your sales goals is running ads. Paid traffic is a way to get more leads into your funnel that you can prospect to without doing “all the work.”
Different Ad Platforms
- Facebook & Instagram ads
- Google ads
- YouTube ads
- Pinterest ads
- Etsy ads
Additional Resources to Lock in Your Sales Goals
If you want predictable results, you need to focus on the numbers in your sales goals. If you want to close 20 deals a month, then you need to call 100 people a month. That’s the simplicity of it.
If you don’t have sales goals, you’re just waddling through your business hoping everything works out and you’re going to keep getting exactly what you’ve always gotten.
So I know this is something that’s not sexy. But if you want results now, this is the fastest way.
And I know if you implement this, you are going to see success. Because after you track your weekly goals for a couple of months, you’re going to be able to identify exactly what your conversion rate is and where in your funnel you need to get better.
Here are additional resources to help you with sales:
- How to Become a High Ticket Closer
- Close the Sale with this 4-Step Sales Process
- How to Increase Sales
- Overcoming Objections
- How to Have a Positive Mindset in Sales When Life Sucks
Watch the Youtube video where I go into greater detail with examples: